California real estate creates home-buying paradox 

Last year marked a continuation of the record-breaking performance of the California housing market that began in the late 1990s, according to the California Association of Realtors "2004 – 2005 State of the Housing Market" report, released today. Home sales and the median home price reached record high levels in 2004, while supply conditions and the share of first-time buyers in the California housing market fell to historic lows.

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